Business

NCDMB’s 10-year roadmap to attain 70% local content

Nigeria reached 30 per cent in-country capacity in the oil and gas sector in 2019 from 5 per cent in 2010, recording remarkable progress in engineering and fabrication works, a feat that has mitigated capital flight and job losses to foreigners. As the nation looks to bolster its participation [...]

Fri, 10 January 2020


FG trains 200 women entrepreneurs on shea butter

The Federal Government has trained 200 female entrepreneurs on shea butter picking and processing.

Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum, who disclosed this at the Bauchi State’s 1st National Trade and Exhibition Fair in Bauchi, said at the end of the t [...]

Mon, 23 December 2019


Adebayo wants states to create investment promotion agencies

The Minister of Industry, Trade and Investment, Otunba Richard Adebayo, has called on the thirty six state governments and the Federal Capital Territory, FCT, to set up investment promotion agencies in their respective domains.

Adebayo made the call recently in Abuja while meeting with members [...]

Mon, 23 December 2019


FG launches electronic records management project

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has launched an Electronic Records Management, ERM, platform for the tracking of incoming and outgoing mails in the Ministry.

While launching the platform in Abuja, Ahmed noted that the move was in furtherance of the curr [...]

Mon, 23 December 2019


NNPC declares trading surplus of N5.20bn in August

The Nigerian National Petroleum Corporation, NNPC, has announced an increased trading surplus of N5.20billion for August 2019, reflecting an increase of 22 per cent when compared with the N4.26billion surplus posted in July 2019.

The new figures are contained in the recently released August 201 [...]

Mon, 23 December 2019


FAAC shares N635.826bn to FG, States, LGs in November

A total sum of N635.826 billion has been disbursed to the three tiers of government by the Federation Account Allocation Committee, FAAC, as federal allocation for the month of November 2019.

A statement by the Director of Information at the Ministry of Finance, Budget and National Planning, Mr [...]

Mon, 23 December 2019


Oil: NCDMB targets 70% local content by 2027

A 10-year roadmap by the Nigerian Content Development and Monitoring Board, NCDMB, targets to achieve 70 per cent of local content in the oil and gas sector by 2027.

Nigeria currently has 30 per cent in-country capacity with relative advantage in engineering and fabrication.

NCDMB’ [...]

Mon, 23 December 2019


NGC diversifies into gas processing

The Nigerian Gas Company, NGC, says it is diversifying into gas processing services to boost its revenue.

NGC, which is a subsidiary of the Nigerian National Petroleum Corporation, NNPC, had declared an annual Profit of N13.29bn in 2018.

Speaking at the 24th Annual General Meeting, AGM, [...]

Sun, 15 December 2019


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